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sz China Refining Monthly Report-Aug’2012
[Monday, Dec. 24, 2012] PRINT EMAIL FAV PDF

 

Editorial:
Review of China Refining Market in Aug 2012
 
News Spot:
 
1.China Raises Fuel Prices On Aug 10
 
China has raised the retail prices of gasoline by 390 yuan (62 U.S. dollars) per tonne and diesel by 370 yuan per tonne starting on Aug 10, the country’s top economic planner said on Aug 9.
 
2. COMAC, Boeing To Refine Jet Fuel From Cooking Oil
 
The Commercial Aircraft Corporation of China and US aerospace giant Boeing will work together to refine used cooking oil into aviation biofuel.
 
3. China Clarifies Tax-Exemption Rules On Naphtha Purchases
 
China has clarified its rules on the exemption of consumption tax on naphtha used in producing ethylene and aromatic products in a move to boost support for domestic chemical producers, sources said on Aug 2.
 
Oil Demand:
 
China’s apparent oil demand fell for the first time in three years in Jun, dropping 1.9% year on year to 36.84-mil mt, or an average 9.0 million barrels b/d. China’s fuel oil apparent consumption was around 17.2-mil mt in the first half of the year, a fall of 2.9% from the same period last year, according to data from the National Bureau of Statistics (NBS).China’s diesel apparent consumption amounted to 84.96-mil mt in Jan-Jun 2012, a rise of 2.1% from the same period in 2011, the data from the National Bureau of Statistics showed.
 
Crude Refining:
 
Chinese refiners’ throughput is expected to amount to 38.0-39.0-mil mt in Aug, a rise of 3.4% month on month. Operating rates of major Chinese refineries averaged 80.4% on Aug 16, down by about 3 percentage points from two weeks ago.
 
Crude:
 
China commercial crude inventories at the end of Jul increased by 3.1% from Jun, marking a growth for five months in a row, data released by China National Petroleum Corporation (CNPC) showed.
 
Oil Product:
 
China oil product stocks at the end of Jul declined by 5.88% from a month earlier, according to data released by China National Petroleum Corporation. China produced 10.17-mil mt of kerosene in Jan-Jun 2012, up by 12.8% from the same period last year, according to data released by the National Bureau of Statistics. China produced a combined 14.7-mil mt of naphtha in the first half of the year, a fall of 0.5% from the same period last year, according to data from the National Bureau of Statistics (NBS).China produced a total of 7.58-mil mt of ethylene in the first six months of 2012, a decline of 3.29% year on year, data from the National Bureau of Statistics (NBS) showed.
 
Index:
 
 
 
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